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Posts Tagged ‘Hotels Energy Corridor’

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New-Home Sales Improve Slightly in June

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Investment Real Estate, new homes houston energy corridor, Real Estate Investment on August 8, 2017 at 5:46 pm

New-home sales improved in June, with sales of new, single-family homes eking up 0.8 percent to 610,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The average new-home sales price was $379,500, while the median was $310,800. New-home listing inventory was 272,000—5.4 months supply.

“Although we saw modest gains this month, new-home sales have risen nearly 11 percent since the start of 2017,” said Granger MacDonald, chairman of the National Association of Home Builders (NAHB), in an NAHB Now update. “Our members remain optimistic as the single-family housing market continues to recover.”

“We saw new-home sales edge up a slight 0.8 percent in June solely because last month’s figure was revised downward, but this still reflects a recent increase in new construction resulting in new-home sales up 9.1 percent over the past year,” says Joseph Kirchner, senior economist for realtor.com®. “While that’s not enough to ease the shortage, there is some good news when it comes to new-home prices. Median sales prices dropped to $310,800 from $324,300 in May, though that’s still 3.4 percent above the same time last year. Builders have been focusing on more expensive homes, but the increase in low- to moderately-priced new-homes on the market will help millennials, first-time and moderate- to low-income homebuyers.”

“Both of June’s numbers aren’t statistically significant, so we should take them with a grain of salt,” wrote Ralph McLaughlin, chief economist at Trulia, in a Trulia Trends blog. “A less volatile number to look at is the 12-month rolling total, which is up 14.1 percent year-over-year. This represents the most since June 2008—a nine-year high.”

Source: U.S. Census Bureau

Reprinted with permission from RISMedia. ©2017. All rights reserved.

If you are interested in buying or selling real estate in the Energy Corridor, please contact Connie Vallone with First Market Realty at 713 249 4177  or visit www.houstonenergycorridorhomes.com  or www.vallonehomes.com .

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NEW LISTING! 1514 Ashford Hollow Lane, Houston, TX 77077 – MLS# 87660283

In Buying a Home, Home Upgrades, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Real Estate Investment, Selling your home, Terry Hershey Park on January 6, 2017 at 9:09 pm

NEW LISTING! 1514 Ashford Hollow Lane, Houston, TX 77077 – MLS# 87660283

1514 Ashford Hollow LnBeautifully updated home on quiet cul-de-sac in the heart of energy corridor walking distance to Terry Hershey Park. Study and dining areas lead to family room and kitchen with hand scraped wood and travertine floors. Chefs’ kitchen with granite countertops, gas cooktop and new Stainless Steel appliances. Smart home locks, lights and thermostat, double paned windows. Spacious family room with wet or wine bar and views to your own private oasis backyard with mature shady trees and sparkling pool. Too many updates to list please see attached list.

HAR Link: http://www.har.com/1514-Ashford-Hollow-Lane/sale_87660283

If you are interested in buying or selling real estate in West Houston, please contact Connie Vallone with First Market Realty at 713 249 4177  or visit www.houstonenergycorridorhomes.com  or www.vallonehomes.com .

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Shortage of New-home Lots Promises to Drive Up Home Prices

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Real Estate Investment, Selling your home on September 20, 2016 at 6:23 pm

A growing shortage of lots for new homes will push up home prices in many U.S. markets.

That’s the word from the National Association of Home Builders (NAHB), which says the availability of new-home lots is at a historic low. In the NAHB/Wells Fargo Housing Market Index survey for May, 64 percent of home builders reported the supply of new-home lots in their areas was “low” or “very low.” That’s the highest percentage since NAHB started collecting this data in 1997.

“As long as the supply remains constrained and demand remains strong, new-home prices will continue to rise,” says David Brown, regional senior vice president at Metrostudy, which tracks U.S. housing trends.

In April 2016, the average price of a new home in the U.S. was $379,800, up 13.5 percent from April 2015, according to NAHB.

Brown attributes the lot shortage to a tight market for real estate loans and high land prices in popular areas.

NAHB says the record-high shortage comes as new homes are being started at a rate of less than 1.2 million a year. In 2005, when housing starts climbed past 2 million, the share of builders reporting a lot shortage stood at 53 percent.

“The lack of availability of buildable lots has quickly become one of the biggest issues facing our members,” says NAHB Chairman Ed Brady, a home builder in Bloomington, Ill. “While labor shortages and regulatory burdens remain struggles as well, lot shortages are preventing our builders from responding to growing demand for housing.”

 NAHB’s Chief Economist Robert Dietz says the lack of lots for new homes “will have negative impacts on housing affordability in many markets.”

 While the lot shortage is affecting markets across the country, the deficit is most acute in the West, according to NAHB. In that region, 39 percent of builders surveyed indicated the lot supply was “very low,” compared with 23 percent in the South and 18 percent in the Midwest and North.

 Brown, the Metrostudy executive, says the areas where lot shortages are especially acute are:

  • Austin, Texas
  • Boise, Idaho
  • Colorado Springs, Colo.
  • Dallas-Fort Worth
  • Denver
  • Houston
  • Maryland suburbs of Washington, D.C.
  • Nashville, Tenn.
  • New Jersey and New York suburbs of New York City
  • Northern Calif.
  • Portland, Ore.
  • Raleigh-Durham, N.C.
  • Salt Lake City
  • Seattle
  • Southern Calif. 

Each of those markets has a less than two-year supply of lots available for new homes, Brown says.

“Since 2010, lot inventory has dropped 25 percent at the same time that housing starts have increased 90 percent,” Brown says. “Development activity has grown but still has not caught up with the pace that lots are getting absorbed.”

 John Egan is editor in chief at LawnStarter, an Austin, Texas-based startup online platform that helps people find, schedule, pay for and manage lawn care services.

This post was originally published on RISMedia’s blog, Housecall. Check the blog daily for top real estate tips and trends. RISMedia Tracking Snippet *** Do Not Remove *** End RISMedia Tracking Snippet

Reprinted with permission from RISMedia. ©2016. All rights reserved.

If you are looking for Classic Real Estate Services from concept to closing, please contact Connie Vallone by phone (713) 249-4177, email connie@knowsrealestate.com or visit my website at www.houstonenergycorridorhomes.com or www.vallonehomes.com .

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6 Essential Things to Look for in a New Home

In Buying a Home, Home Upgrades, Home Values, Houston Energy Corridor, new homes houston energy corridor, Real Estate Investment, Selling your home on June 10, 2016 at 6:53 pm

Investing in real estate is one of the most financially sound things you can do, but buying a new home might feel intimidating when it is your first time. It is understandable that you’d want to make the best decision possible. Here are six things to look for that can help with your decision.

Efficient HVAC System

Heating and cooling count for a large percentage of a home’s monthly operating costs. An outdated heating and air conditioning system will drive up your bills and decrease your comfort. Make sure the HVAC system is one of the newer efficient models and has been well maintained.

Good Layout

Decorating a home is easy and inexpensive, but big renovations like knocking out walls or adding rooms can drive up your costs later on. It is better to start with architectural details that you already enjoy. Pay attention to how one space flows to another, ceiling height, number of rooms and the amount of natural light.

A Sturdy Roof in Good Repair

Many homebuyers forget to check out this important home feature. A damaged roof can indicate water damage and mold problems elsewhere in the home. Your real estate agent can supply you with information about any recent upgrades to the structure and a professional home inspection can supply you with any other data you need to know before making your decision. These agents can also help you find solid listings of homes that have recently repaired.

 Upgraded Plumbing

Old homes can possess a lot of charm, but if you are considering buying a piece of vintage real estate, make sure you have the plumbing checked. Old metal pipes can leak or might be corroding and adding visible sediment to the water supply. Upgraded plumbing helps you avoid problems such as burst pipes and high water bills from inefficient plumbing features.

 A Great Kitchen

The kitchen is one of the most important rooms in the home. Even if you don’t plan to spend a lot of time there, you will want to make sure the kitchen adds a lot of value to the home in case you put it back on the market in the future. Renovating a kitchen can be costly, and so it is better to start out with a kitchen you know you can live with and enjoy.

The Right Number of Bathrooms

Adding a bathroom is not a simple task. Don’t settle for a home that lacks the right number of bathrooms to match your family’s needs. Two bathrooms at minimum are ideal.

Remember that details such as cabinet color, carpeting and other decorative features can be changed when you tire of them, but the architectural bones of the home is another story. Put more worth on a sound structure that you can do a lot with, and features such as a stone mantel, rather than easily replaced incidentals.

Kara Masterson is a freelance writer from West Jordan, Utah. She graduated from the University of Utah and enjoys writing and spending time with her dog, Max. 

 This post was originally published on RISMedia’s blog, Housecall.

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Reprinted with permission from RISMedia. ©2016. All rights reserved.

If you are interested in buying or selling real estate in West Houston, please contact Connie Vallone with First Market Realty at 713 249 4177, connie@knowsrealestate.com   or visit www.houstonenergycorridorhomes.com  or www.vallonehomes.com .

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NEW LISTING! 14011 Swiss Hill Drive, Houston, TX 77077 – MLS# 75499706

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Terry Hershey Park on May 25, 2016 at 6:09 pm

NEW LISTING! 14011 Swiss Hill Drive, Houston, TX 77077 – MLS# 75499706

14011 Swiss Hill DriveTastefully updated one story beauty. Beautiful mahogany front door. Wood tile flooring throughout family/dining and spacious updated kitchen with granite and subway tile backsplash – wait till you see the butler’s pantry! Huge family room with wall of windows leads to shady backyard retreat with covered patio. Retreat to your spacious master with two walk in closets and it’s own private back patio. Completely updated master bathroom. Walking distance to Hershey Park, energy corridor shops and restaurants.

HAR Link: http://www.har.com/14011-swiss-hill-drive/sale_75499706

If you are interested in buying or selling real estate in West Houston, please contact Connie Vallone with First Market Realty at 713 249 4177  or visit www.houstonenergycorridorhomes.com  or www.vallonehomes.com .

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Residential Home Prices Continue to Gain Strength

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Selling your home on March 4, 2016 at 4:37 pm

Property values nationwide continued to strengthen going into 2016, according to the recently released FNC December home price report – the last report for 2015.
According to the FNC Residential Price Index (RPI), home prices finished 2015 with the fastest pace of yearly appreciation since October 2014. As of December, average property value rose 6.2 percent from the same period a year ago, compared to 4.7 percent at the start of the year.

Despite reported slowing economic growth in the fourth quarter of 2015, home prices grew 6.0 percent during the same period as activities in the housing sector remain robust, with key indicators all pointing to modest to strong growth.

“Now with the spring home buying season soon upon us and with interest rates hovering at historical lows, as well as favorable credit conditions to support home ownership, the latest price trends give many Americans another piece of important information while considering buying a home,” says Yanling Mayer, housing economist and Director of Research at FNC.

To further inform and help potential home buyers evaluate their decisions, FNC complied a 2015 year-end home price snapshot to provide a measure of not only the strength of the ongoing recovery, but also how far have the nation’s largest housing markets come along since the market crash.

“Nationwide, average property value is up 28 percent since early 2012, although there is considerable variation in the pace of the recovery across the country,” Mayer says. “When benchmarked against the level attained in summer 2007 – when U.S. home prices began a freefall – current price level is about 13 percent below the peak run-up,” Mayer said.

“But again, they varied widely by market, attributable to the extent of market fallout as well as the strength of the recovery in the last four years. A handful of cities – including Denver, San Antonio, Houston, and Dallas – have made significant strides and are seeing property values higher than eight and a half years ago,” continues Mayer.

For more information, visit www.fncinc.com.

Reprinted with permission from RISMedia. ©2016. All rights reserved.

If you are looking for Classic Real Estate Services from concept to closing, please contact Connie Vallone by phone (713) 249-4177, email connie@knowsrealestate.com or visit my website at www.houstonenergycorridorhomes.com or www.vallonehomes.com .

 

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NEW LISTING! 13746 Trailville Drive, Houston, TX 77077 – MLS# 44356684

In Buying a Home, Houston Energy Corridor, Investment Real Estate, Selling your home, Terry Hershey Park on February 11, 2016 at 7:20 pm

NEW LISTING! 13746 Trailville Drive, Houston, TX 77077 – MLS# 44356684

13746 Trailville DriveStunning executive home beautifully and completely remodeled. A RARE find backing up to Terry Hershey Park. Spacious living and dining areas lead to huge chef’s kitchen with stainless steel appliances, granite countertops and custom cabinets that opens to family room. Wood and travertine floors throughout the first floor, soaring ceilings and a wall of windows offering peaceful views. Well appointed remodeled master retreat down plus 3 more bedrooms and game room upstairs. 3-car garage. Hardi plank in 2014 and recent air conditioner updates. Too many updates – please see a complete list online.

HAR Link: http://www.har.com/13746-trailville-drive/sale_44356684

If you are interested in buying or selling real estate in West Houston, please contact Connie Vallone with First Market Realty at 713 249 4177  or visit www.houstonenergycorridorhomes.com  or www.vallonehomes.com .

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Consumers Feel Confident in January

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Real Estate Investment, Selling your home on February 4, 2016 at 4:08 pm

The Conference Board Consumer Confidence Index®, which had increased in December, improved moderately in January. The Index now stands at 98.1 (1985=100), up from 96.3 in December. The Present Situation Index was unchanged at 116.4, while the Expectations Index increased from 83.0 to 85.9 in January.

“Consumer confidence improved slightly in January, following an increase in December,” says Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of current conditions held steady, while their expectations for the next six months improved moderately. For now, consumers do not foresee the volatility in financial markets as having a negative impact on the economy.”

Consumers’ appraisal of current conditions was relatively flat in January. The percentage saying business conditions are “good” was virtually unchanged at 27.2 percent, while those saying business conditions are “bad” declined slightly from 18.9 percent to 18.5 percent. Consumers’ assessment of the labor market was modestly more positive. The proportion claiming jobs are “plentiful” decreased from 24.2 percent to 22.8 percent, while those claiming jobs are “hard to get” declined to 23.4 percent from 24.5 percent.

Consumers’ optimism about the short-term outlook improved somewhat in January. The percentage of consumers expecting business conditions to improve over the next six months rose from 14.5 percent to 16.2 percent, while those expecting business conditions to worsen edged down from 10.8 percent to 10.3 percent.

Consumers’ outlook for the labor market was also slightly more optimistic. Those anticipating more jobs in the months ahead increased from 12.4 percent to 13.2 percent, while those anticipating fewer jobs decreased slightly from 16.8 percent to 16.5 percent. The proportion of consumers expecting their incomes to increase improved from 16.3 percent to 18.1 percent. However, the proportion expecting a reduction in income increased from 9.5 percent to 10.8 percent.

For more information, visit www.conference-board.org.

Reprinted with permission from RISMedia. ©2016. All rights reserved.

If you are looking for Classic Real Estate Services from concept to closing, please contact Connie Vallone by phone (713) 249-4177, email connie@knowsrealestate.com or visit my website at www.houstonenergycorridorhomes.com or www.vallonehomes.com .

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NEW LISTING! 13526 N Tracewood Bend, Houston, TX 77077 – MLS# 45674807

In Buying a Home, Home Upgrades, Home Values, Houston Real Estate Agent, Investment Real Estate, Parks & Recreation, Parkway Villages, Real Estate Investment, Selling your home, Terry Hershey Park on January 29, 2016 at 8:00 pm

NEW LISTING! 13526 N Tracewood Bend, Houston, TX 77077 – MLS# 45674807

13526 N Tracewood BendBeautifully updated one story in gated Parkway Villages. Living/dining area with cozy fireplace lead to family room that opens to completely remodeled kitchen with new cabinets and appliances, all with wood flooring and high ceilings. Fully remodeled master retreat. Light and bright with beautiful high windows and views to sparkling pool with spa and water features. Four bedrooms plus extra room and three full baths. New roof in 2014, two new air conditioners with hospital quality filtering system, New Low E double paned windows in 2015.

HAR Link: http://www.har.com/13526-n-tracewood-bend/sale_45674807

If you are interested in buying or selling real estate in West Houston, please contact Connie Vallone with First Market Realty at 713 249 4177  or visit www.houstonenergycorridorhomes.com  or www.vallonehomes.com

 

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Millennials and Money: Six Trends for 2016

In Buying a Home, Houston Energy Corridor, Houston Real Estate Agent, Parks & Recreation, Real Estate Investment, Selling your home, Social Media, Terry Hershey Park on January 21, 2016 at 6:21 pm

At 75 million strong, Millennials are the country’s largest living generation. This social-savvy and boundary-pushing group is wielding its influence on virtually every industry, including the financial one. Here’s a look at six of the most popular finance trends among Millennials and a preview of what to expect in 2016:

  1. There will be an influx of Millennials in the workforce. According to the Bureau of Labor Statistics, 2016 will see more Millennials in the workforce than ever before, representing the largest segment among all generations. Their increasing presence in the workforce will give them more disposable income as they rise into management positions.
  2. Millennials are choosing socially conscious investment models. These models reflect Millennials’ social values of giving back, which have grown exponentially in just the last decade. In 2001, people invested $3.1 trillion in these models; by 2014 this jumped to $6.6 trillion.
  3. Weddings will become even more expensive. In 2014, the average price of a wedding rose to $31,213, a 4-percent increase from 2013, according to The Knot’s annual survey. If wedding prices continue this trend, 2016 will mark an all-time high for wedding costs. This could also contribute to the shift of Millennials marrying later in life. Many couples already choose to wed later due to student loan debt and unstable financial situations.
  4. The average student loan debt will continue to increase. As of 2015, students carry $1.2 trillion in debt. In 2014, about 70 percent of students graduated with an average loan debt of $28,950, up 2 percent from 2013. Student-loan debt affects the economy in many ways, demonstrated by the number of Millennials living at home and more young adults delaying buying a home.
  5. Millennials will skip the gym, but not the exercise. Wellness remains a top priority for Millennials, with 88 percent of Millennials saying they exercise, but according to a Mintel survey, 72 percent of Millennials say gym memberships are too expensive. Because of this, Millennials have been cutting their gym expenses and instead paying for wellness programs. In 2016, Millennials will pay for community exercise programs, fitness apps, classes and other nontraditional workouts over annual gym memberships.
  6. Millennials will continue to travel, but they will spend less per trip. Unlike older generations, Millennials are willing to make sacrifices, like forgoing hotel stays for hostels, to cut down expenses. According to a Yahoo! Travel Survey, 68 percent of Millennials are more likely to spend less than $1,000 per trip versus 33 percent of the population surveyed who says they would spend $1,000 to $4,999 on a vacation.

“By analyzing these trends, it’s clear that Millennials like to chart their own course when it comes to lifestyle and financial choices,” says Emily Holbrook, director of the young personal market at Northwestern Mutual. She urges Millennials to reflect on their spending habits and plan ahead.

“Millennials handle their finances much differently than previous generations,” says Holbrook. “Their financial decisions are reflective of their personal values, beliefs and lifestyles. It’s important for members of this generation to be smart about their money decisions and create a financial plan, especially since they’ve shown they tend to follow their heart.”

The New Year is a good reminder for Millennials to create a financial plan or consider speaking with a financial advisor. Young professionals can benefit from having a trusted financial representative by staying on top of money trends and seeking ways to be financially savvy.

Sources: Northwestern Mutual, www.TheMintGrad.org

Reprinted with permission from RISMedia. ©2016. All rights reserved.

If you are interested in buying or selling real estate in West Houston, please contact Connie Vallone with First Market Realty at (713) 249-4177  or visit www.houstonenergycorridorhomes.com  or www.vallonehomes.com